UV curable resins are widely used in curing radiations of materials such as inks, coatings, adhesives, among others. UV curable resins are free-from organic solvents which include co-initiators, monomers, oligomers, and various other additives such as pigments, stabilizers, antioxidants, and plasticizers. UV curable resins includes fast cure (high productivity), less harmful emissions, less energy consumption, low temperature treatment, and waste reduction properties. These resins are majorly used for applications that require instant curing and fast drying. UV curable resins are the most preferred option for applications with fast-curing and fast-drying requirements.

Dynamics

Increasing demand for UV curable resins & formulated products across various industrial sectors such as wood & paper coating and plastic coating, is major factor estimated to drive growth of the global market in the next 10 years. Rising application scope in the coating industry is another key factor estimated to support revenue growth of the target market over the next few years. In addition, various properties offered by UV curable resins & formulated products such as resistant to extreme weather conditions is another factor estimated to boost adoption of these products, which in turn anticipated to drive growth of the target market over the forecast period. Moreover, UV curable resins & formulated products also find application in printing sectors with improved efficiency, which in turn estimated to drive growth of the target market over the next 10 years.

Region Analysis

Asia Pacific market is estimated to account for major share in terms of revenue in the global UV curable resins & formulated products market. In addition, Asia Pacific market is also projected to register fastest growth in terms of revenue over the next few years, owing to increasing demand from various coating industries in countries in this region. Increasing investments by private manufacturers in Asia Pacific region and rising demand from various end-use industrial verticals are other factors anticipated to drive growth of the Asia Pacific market in the next few years. The market in China is estimated to account for major share in terms of revenue in the Asia Pacific. In addition, increasing awareness regarding various advantages offered by these resins among manufacturers in countries in this region are other factors driving growth of end-use industries, which in turn is estimated to fuel growth of the potential market in this region.

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